Struggling MedicaLogic/Medscape
Cuts Jobs, Hires Strategic Adviser

Dow Jones Newswires

Updated July 13, 2001 1:55 p.m. ET

HILLSBORO, Pa. -- MedicaLogic/Medscape Inc. said it is reducing its work force by 22%, and hired financial adviser Lazard Freres & Co. to explore strategic alternatives, including a possible sale of the company.

The company, which does business as Medscape, said the economic climate caused the deferral of investment decisions by several key customers, which hurt its revenue. The company also said it expects to report...